Starbucks Corporation $SBUX Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Starbucks Corporation by 3.2%, holding 361,436 shares valued at approximately $35.45 million after selling 12,100 shares in the first quarter.
• Starbucks recently announced a quarterly dividend of $0.61 per share, reflecting an annualized yield of 2.8%, although its payout ratio stands at 105.17%.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing expectations, despite achieving revenues of $9.46 billion, which exceeded analysts' predictions.

Lansforsakringar Fondforvaltning AB publ decreased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 361,436 shares of the coffee company's stock after selling 12,100 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Starbucks were worth $35,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Starbucks during the first quarter worth about $1,379,619,000. Jennison Associates LLC purchased a new stake in Starbucks during the first quarter worth approximately $817,759,000. Polen Capital Management LLC purchased a new stake in Starbucks during the first quarter worth approximately $503,539,000. Goldman Sachs Group Inc. lifted its stake in Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX stock traded up $0.17 during midday trading on Friday, hitting $88.19. The company had a trading volume of 6,312,155 shares, compared to its average volume of 8,713,048. The company's 50 day simple moving average is $91.96 and its 200 day simple moving average is $92.56. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market cap of $100.25 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 5.23 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter last year, the business posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is 105.17%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SBUX shares. UBS Group boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Guggenheim lifted their price target on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.